Brain Computer Interface Market By Signal Acquisition Type (Invasive Techniques, Noninvasive Techniques), By Application (Communication, Motor Restoration, Environmental Control, Locomotion, Entertainment, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

Brain-computer interface technology is a significant communication tool between systems and users. This technology was initially developed for biomedical applications, leading to the emergence of assistive devices. A brain-computer interface has also facilitated the restoration of movement abilities and the replacement of lost motor functionality. The promising future of the brain-computer interface has encouraged researchers to study the importance of the brain-computer interface for non-paralyzed humans with medical applications. The scope of brain-computer interface research has further spread to non-medical applications. Recent studies have also focused on normal, healthy individuals in order to investigate the use of brain-computer interfaces as a potential input device and the development of hands-free applications.

Market Synopsis

Greater demand for noninvasive signal acquisition techniques is expected to be witnessed in the market.

Based on the types of signal acquisition methods, the global brain computer interface market is segmented into invasive techniques, such as intracortical and cortical surface techniques, and noninvasive techniques, such as magnetoencephalography, functional magnetic resonance imaging, functional infrared spectroscopy, and electroencephalogram. In terms of revenue, the global market for the two noninvasive techniques is smaller. The wider applicability of this technology, including for medical and entertainment purposes, mainly contributes to the dominance of this segment. Additionally, the growing use of these techniques in home applications will open further growth opportunities in the global market. On the other hand, the growth of the invasive techniques segment is anticipated to remain stable during the forecast period. The vital position of invasive techniques in enabling motor control and vision restoration will enable the stable position of this segment through 2026.

The demand for environmental control applications is increasing.

Based on applications, this market is segmented as communication, motor restoration, environmental control, locomotion, entertainment, and others (neuromarketing, security, etc.). Brain-computer interfaces are currently widely adopted for healthcare, gaming, entertainment, and communications applications. In healthcare, this technology finds a sustainable position in the treatment of paralysis, neurological diseases, sleep disorders, and assessments of neuroscience. However, it is anticipated that the demand for brain control devices in the home or environment control segment for purposes such as lighting control, use of communication systems, access control, and so on, will flourish. Smart environments such as smart workplaces, transportation, and smart homes can exploit brain-computer interfaces to control daily human life. It is also anticipated that we will soon witness cooperation between brain-computer interfaces and the internet of things.

North America will spearhead the global brain computer interface market.

In 2017, North America was the largest market for brain-computer interfaces on the global front and accounted for over 35% of the global market. The high incidence and prevalence of neurodegenerative diseases, as well as the rapid adoption of new technologies, are the primary reasons for North America's dominance. Additionally, the growing popularity of virtual gaming is also a key characteristic of the North American market. The domicile of several major players in the U.S. also assists in characterizing the dominance of the North American market. Asia Pacific, however, is anticipated to register the fastest growth during the forecast period from 2018 to 2026. A large potential patient population and growing healthcare expenditure, along with disposable incomes, are the key attributes for the rapid growth of the Asia Pacific market. Japan and China are the most prominent regions in the Asia-Pacific market.

Periods of History and Forecast

This research report presents the analysis of each considered segment for the period from 2016 to 2026, using 2017 as the base year for estimations. Compounded annual growth rates (CAGRs) for each segment are calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The brain-computer interface market report provides a quantitative assessment of the industry in terms of current and forecasted market size while also presenting the market dynamics. This market is segmented based on signal acquisition type, applications, and geography.

As mentioned, this report offers market size and forecasts for each market segment considered in the study scope for the period from 2016 to 2026. Furthermore, quantitative information sets for each such segment are provided in the study for better market analysis. Market assessment factors such as drivers, challenges, and opportunities are also covered in this report. In addition, this report provides profiles of key players operating in this market, such as Advanced Brain Monitoring, Inc., ANT Neuro, Brain Products GmbH, Cognionics, Inc., Compumedics Ltd., Integra LifeSciences Corporation, Neuroelectronics, InteraXon, Guger Technologies OG, Natus Medical, Quantum Applied Science and Research, Inc., OpenBCI, Neurosky, Inc., and Mind Solutions Inc.

Key questions are answered in this report.

  • What is the size of the global brain computer interface market, and at what CAGR will the global market progress through the forecast period from 2018 to 2026?
  • Which are the key dynamics determining the prevailing and expected trends in the global brain computer interface market?
  • How much of invasive signal acquisition techniques were used in the base year 2017?
  • Which factors support the strong position of electroencephalogram solutions in the global brain computer interface market?
  • Which application area occupies the strongest position in the global market, and why?
  • How will the rapidly growing Asia-Pacific market fare through 2026?

Frequently Asked Questions:

The market for Brain Computer Interface Market is expected to reach US$ XX Mn by 2026.

The Brain Computer Interface Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Neuroelectronics, InteraXon, Guger Technologies OG, Natus Medical, Quantum Applied Science and Research, Inc., OpenBCI, Neurosky, Inc., and Mind Solutions Inc. are some of the major players in the global market.

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Published Date:  Dec 2018
Category:  Medical Devices
Report ID:   59498
Report Format:   PDF
Pages:   120
Rating:    4.2 (56)
Delivery Time: 24 Hours to 48 Hours   
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